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It is important for a country to have a large GDP as this shows that revenues are high and production rates are on the increase. Additionally, residents of the country enjoy the benefits of economic growth and improved services.
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Why is it desirable for a country to have a large GDP?
A large GDP indicates a higher revenue and increased production. Such GDP will boost or improve government expenditure and perhaps reduce taxation. Also in a well organized society or state, a large GDP can enhance economic activities resulting to growth.
Is a high GDP per capita good?
Yes it is good to have a high GDP per capita.
Is GDP a good measure?
no
Is having a high GDP good or bad?
Good
A large negative GDP gap implies?
high rae of unemployment
Why is it desirable for a country to have a large GDP?
A large GDP indicates a higher revenue and increased production. Such GDP will boost or improve government expenditure and perhaps reduce taxation. Also in a well organized society or state, a large GDP can enhance economic activities resulting to growth.
Is a high GDP per capita good?
Yes it is good to have a high GDP per capita.
Is GDP a good measure?
no
What is the gnp of Albania?
GDP (purchasing power parity):$20.87 billionnote: Albania has a large gray economy that may be as large as 50% of official GDP (2007 est.)
Is having a high GDP good or bad?
Good
A large negative GDP gap implies?
high rae of unemployment
Can GDP be zero and if so what does that mean for the country with a zero GDP?
The GDP of a country - or even a large community - cannot be zero. Zero GDP implies that there is no output (goods or services), nobody spends anything (on things from inventories or imports), nobody earns anything.
How does real GDP affect unemployment rate?
Real GDP is a measure of the economic output of a country. The absolute measure only tells you what that output was for a particular period. The more important measure for employment is the difference between real GDP and a theoretical real GDP which economists use to calculate the maximum output of an economy. When the gap between real GDP and maximum output GDP is large, the unemployment rate will be large and vice versa.
How are used goods counted in the GDP?
used good sales are not included in GDP, because it is treated as asset transfer.
What is the difference between GDP real GDP and per capita GDP?
GDP: gross domestic product; basically how much money taken by the country from within itself. Real GDP: * definition waiting. Per capita GDP: The GDP divided by the population. A good estimate of how much each person makes - a larger population with a fairly large GDP might appear to be better off, but a lower per capita GDP indicates that it is not as good as a smalller country with higher per capita GDP.
What purchases would be counted as a final good in the GDP calculation?
Those purchases would be counted as a final good in GDP calculation which are made by final consumers for their own use.
Is GDP a good measure of prosperity of the average person?
a plato
